For those who read Tuesday’s technical briefing you may recall the team highlighted the 161.8% H4 Fib ext. at 109.80 as a possible buy (in the technical domain, this is considered an ‘alternate AB=CD pattern’ ). We liked this level due to the following:
• Fused closely with a H4 channel support (taken from the low 110.73).
• Weekly movement, as you can see,...
USDCAD is testing its support at 1.3033 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.3114 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is testing its support at 3% where a corresponding bounce could occur.
AUDJPY is testing its resistance at 80.79 (23.6% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 79.85 (100% Fibonacci extension, horizontal swing low support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop could occur.
AUDUSD is testing its resistance at 0.7349 (100% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.7284 (50% Fibonacci retracement, horizontal overlap support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop could occur.
EURUSD is testing its resistance at 1.1523 (61.8% Fibonacci extension, 61.8% & 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1.1400 (61.8% Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop could occur.
EURUSD reversed off its resistance at 1.1440 (38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 1.1301(horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
EURCHF reversed off its resistance at 1.1422 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it could drop further to its support at 1.1264 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
USDCAD bounced nicely off its support at (100% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3127 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is bounced off its support at 5.5% where a corresponding rise could occur.
AUDUSD reversed off its resistance at 0.7320 (100% & 61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 0.7245 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
EURUSD is approaching its resistance at 1.143 (61.8 Fibonacci extension, 23.6% & 38.2% Fibonacci retracement, horizontal swing high resistance) where it could reverse down to its support at 1.1301 (horizontal swing low support).
Stochastic (34, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
EURJPY is approaching its resistance at 126.94 (100% Fibonacci extension, 23.6% Fibonacci retracement x2, horizontal overlap resistance) where it could reverse down to its support at 124.84 (100% Fibonacci extension).
Stochastic (34, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDJPY is approaching its resistance at 80.79 (61.8% Fibonacci extension, 23.6% Fibonacci retracement x2, horizontal overlap resistance) where it could reverse down to its support at 79.65 (100% Fibonacci extension).
Stochastic (34, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
USDCHF reversed off its resistance at 0.9981 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 0.9942 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop could occur.
EURGBP bounced nicely off its support at 0.8900(76.4% & 61.8% & 38.2% Fibonacci retracement, horizontal swing low support, ascending channel support) where it could potentially bounce to its resistance at 0.90 (61.8% Fibonacci extension, 76.4%% Fibonacci retracement).
Stochastic (55, 5, 3) is bounced off near its support at 5.1% where a corresponding rise could...
AUDJPY is approaching its resistance at 80.79(61.8% & 100% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at (61.8% Fibonacci extension).
RSI (89, 5, 3) has broken out of its ascending line where we a further drop could occur.
CADCHF is approaching its support at 0.7533 (61.8% Fibonacci extension x2, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7583 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 6% where a corresponding bounce could occur.
USDCAD reversed off its resistance at 1.3169(100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 1.3051 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop...
Following a modest recovery just north of the 0.72 handle on Wednesday, largely backed by a dip in the USD from 2018 highs of 96.98 (US dollar index), the H4 candles are seen poised to challenge nearby H4 supply at 0.7267-0.7254. Beyond this area the unit may head for 0.73, and quite possibly the daily resistance parked just above it at 0.7314.
Daily demand at...
